St. Clair Advisors LLC Acquires Shares of 13,784 Eaton Co. plc (NYSE:ETN)

St. Clair Advisors LLC acquired a new stake in Eaton Co. plc (NYSE:ETN) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 13,784 shares of the industrial products company’s stock, valued at approximately $4,574,000. Eaton accounts for about 1.3% of St. Clair Advisors LLC’s investment portfolio, making the stock its 11th biggest holding.

Several other institutional investors have also recently bought and sold shares of the business. Flagship Wealth Advisors LLC acquired a new stake in shares of Eaton in the 4th quarter valued at $27,000. Noble Wealth Management PBC acquired a new stake in shares of Eaton in the 4th quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Eaton in the 4th quarter valued at $33,000. Activest Wealth Management increased its stake in shares of Eaton by 621.4% in the 4th quarter. Activest Wealth Management now owns 101 shares of the industrial products company’s stock valued at $34,000 after buying an additional 87 shares during the period. Finally, Knuff & Co LLC acquired a new stake in shares of Eaton in the 4th quarter valued at $37,000. Institutional investors own 82.97% of the company’s stock.

Insider Activity

In related news, insider Michael Yelton sold 2,120 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $296.87, for a total transaction of $629,364.40. Following the sale, the insider now owns 3,382 shares in the company, valued at approximately $1,004,014.34. This represents a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Craig Arnold sold 51,054 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $305.43, for a total value of $15,593,423.22. Following the sale, the insider now owns 489,444 shares in the company, valued at $149,490,880.92. The trade was a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BNP Paribas assumed coverage on Eaton in a research note on Thursday. They set an “outperform” rating and a $380.00 price objective for the company. KeyCorp lifted their price objective on Eaton from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price objective for the company. in a research note on Tuesday, January 28th. Citigroup lifted their price objective on Eaton from $323.00 to $351.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, StockNews.com raised Eaton from a “hold” rating to a “buy” rating in a research note on Sunday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $366.56.

Eaton Stock Performance

ETN stock opened at $329.40 on Monday. The firm has a market cap of $128.89 billion, a PE ratio of 34.67, a P/E/G ratio of 2.64 and a beta of 1.14. The business’s 50-day moving average price is $287.40 and its two-hundred day moving average price is $319.47. Eaton Co. plc has a 1-year low of $231.85 and a 1-year high of $379.99. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

Eaton (NYSE:ETN) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.26 billion. Eaton had a return on equity of 22.62% and a net margin of 15.25%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 earnings per share. As a group, research analysts forecast that Eaton Co. plc will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $1.04 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.26%. Eaton’s dividend payout ratio (DPR) is 41.98%.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.